Supreme Court of India
M/s. Steel Authority of India Ltd. v. Commissioner of Central Excise, Raipur
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We are of the opinion that amendments made to Section 11A in 2001 and 2003 have nothing to do B with the valuation of the goods based on 'the price at the time of removal'.
Judgment, page 24
From the headnote
Central Excise Act, 1944 - s. 11 AB - Interest on delayed payment of duty- Supplementary invoices raised by seller due to price increase by virtue of price variation clause in the sale contract- Differential duty paid by seller on value of such supplementary invoices- Payment of interest u/s. 11 AB on the said differential duty- Held: As on the date when the goods were cleared, there was no certainty that there would be price escalation - It is impossible to expect the assessee to pay the excise duty, at the time of clearance of the goods, on the basis of price escalation that took place at a…
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